Edible Packaging Market is projected to be worth USD 2.14 billion by 2030, registering a CAGR of 6.79% during the forecast period (2022–2030)
Additionally, the rapidly growing pharmaceutical and food & beverages sectors worldwide contribute to the overall market growth. Restricted use of plastic packaging material has become the major reason for the rising demand for Edible Packaging Market size. Simultaneously, government initiatives for promoting eco-friendly packaging materials provide a huge impetus to market growth.
From a packaging perspective, the assessment of sustainability becomes more complex for food contents. Furthermore, plastic packaging, one of the biggest sources of greenhouse gas emissions when mismanaged and wasted, creates substantial market demand.
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Global Edible Packaging Market — Segments
The MRFR analysis is segmented into materials, applications, and regions. The material segment is sub-segmented into lipid, polysaccharides, protein films, and others. Among these, the lipid segment accounts for the largest market share, witnessing extensive uses of neutral glycerin lipids acting as a barrier against oxygen, water vapors and protecting the food from getting contaminated.
However, the protein film segment is expected to grow at the highest CAGR during the forecast period. The application segment is sub-segmented into pharmaceuticals, food beverages, and other industries. By regions, the market is sub-segmented into Americas, Asia Pacific, Europe, and rest-of-the-world.
Global Edible Packaging Market — Geographical Analysis
North America dominates the global edible packaging market. The largest market share attributes to the higher disposable income, driving significant demand for efficient packaging of meat, poultry, and seafood. Furthermore, the burgeoning e-commerce industry fueled by the increasing cross-border trade and huge demand for online shopping boost the edible packaging market size.
Europe is another promising market for edible packaging. Changing lifestyles and the increasing demand for bioactive packaging materials for meat, poultry, and seafood packaging in the region are major edible packaging market trends. Moreover, the emergence of inexpensive & eco-friendly packaging technologies substantiates the edible packaging market growth.
The Asia Pacific edible packaging market accounts for a substantial share. Factors such as rapidly spreading awareness about the growing environmental concerns and adverse effects of plastic packaging drive the market growth. Besides, huge exports of pharmaceuticals and food & beverages from China and India foster the region’s edible packaging market share.
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Global Edible Packaging Market — Competitive Analysis
The highly competitive edible packaging market appears fragmented due to several big & small market players forming a competitive landscape. Key players are adopting the strategic trends of business expansion in emerging markets.
Manufacturers rely on innovation to survive and create new markets. Therefore, they keep themselves abreast of the new technological developments and latest consumer trends by developing human capital. They don’t hesitate to continually invest their time & money into the new age developers for the latest technologies which can increase productivity and add value.
Eminent leaders fostering the global edible packaging market include WikiCell Designs Inc. (U.S.), Nagase & Co. Ltd. (Japan), JRF Technology, LLC (U.S.), Tipa Corp (Israel), Interpack (U.S.), Pace International LLC (U.S.), Ingredion Inc (U.S.), Safetraces, Inc. (U.S.), Dupont de Nemours and Company (U.S.), Tate & Lyle Plc. (U.K), Coveris Holdings, (U.S.), MonoSol, LLC (U.S.), Evoware (Indonesia), Watson, Inc. (U.S.), and Devro plc (U.K).
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Industry/ Innovation /Related News:
May 21, 2021 — — Researchers at Fraunhofer-Gesellschaft announced the development of an innovative and sustainable solution for food packaging as part of the Bioactive Materials project. This eco-friendly coating for paper packaging can make wrapping paper and re-sealable bags for fresh, cooked, or frozen foods.
The team made the coating from protein and waxes with bio-based additives. They are applied in liquid form using standard roll-to-roll technology. These new packaging solutions keep the food fresh for longer, and the antioxidants in the coating even extend the shelf life of the food.
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